Do your research
When betting on a horse race, there are many aspects and factors to bear in mind before placing your bets on the right horse. Initially, you should inquire about the race day, time, location and weather. Consider what kind of track it will be, as in a dirt track or a turf. Another beneficial aspect to look out for is the starting position of the horses, as some positions do offer slight advantages over the others. Before betting on a horse, remember to do an adequate background check to determine the worth of the horse, such as lineage, consistent wins or losses suffered, amount of weight it will carry while racing, gear it will be wearing, gender and age. Do not forget to research the horse’s trainer and jockey as the horse is only good as its rider. Tend to bet on the jockey who has had consecutive wins. A correlation of all such various aspects must be established before betting on the right horse.
Place different types of bets
Typically, the unaware tend to place money on the win bet. The win bet is nothing more than putting money on the horse you think will win, solely based on a hunch. In reality, there are many types of bets which offer massive returns. The tote betting system considers the entire pool of stakes, the more people wager, the higher the chances of an increased yield or payout. A relatively new method of betting integrating technology is exchanged betting. Exchange betting means you wager on a horse of your choice against a person who does the same opposite, basically betting against horses.
Place bets are quite common and a favorite as it enables the wager to bet on any two positions which the horse might come in. Another similar type of betting is the across the board bet where you are eligible for full payout if your horse wins first, two-thirds the payout on second and one-third the payout on third. Another system of ensuring some returns is betting on multiple favorable horses in the same race. If all wagered horses come in promising positions, it will provide substantial returns. Another typical favorite of gamblers is betting on multiple races; such bets ensure substantial payouts accompanied with minimal risk.
Shop the odds
Instead of the typically wagering on horses guided by a hunch, tend to shop the odds. This means comparing and cross-checking with multiple reliable gambling sites, online. Although the initial return is minimal, consistently betting with availing such methods will thicken your pocket. After you get used to cross-checking with online sites, you will be able to recognize a pattern on how it functions and improve your betting skills.
Bet on multiple races, strategically
This tip relies on a rather simple underlying foundation that probability of gaining more returns is heightened as you tend to place bets on more than one race. There are various types of horse races such as endurance race, flat track, dirt track, harness racing, and quarter horse racing. Bear in mind to wager on multiple races once in a while as it can tend to be a strain financially.
Manage your bankroll
This tip essentially means to limit your finances, spend it wisely, pursuing a budget and effective cash management. Before wagering your bets, tend to evaluate your financial position and accordingly place them as if not, it could be a spell for losses and disasters, both racing and financially. You can control your bankroll by setting aside a certain amount for placing bets on horses after making necessary payments like rent, groceries, etc. moreover, effective cash management will enable minimal risk factor.